Prime Minister officially opens IDEALondon centre in Tech City

Speaking at the centre – the first of its kind in Tech City which
aims to nurture and grow both new and existing early-stage start-ups in the
area – the Prime Minister outlined how the strengths of the respective partners
would accelerate growth in Tech City which, in turn, would benefit the
country.

The partnership behind the centre – the Innovation and Digital
Enterprise Alliance (IDEA) – is a collaboration between Cisco, DC Thomson and
UCL and will support the growth of rapidly expanding digital, tech and media
start-ups in and around Tech City in London’s Shoreditch. IDEALondon provides
bespoke support, tailored to individual start-ups, with mentoring and a
strategic acceleration programme. It will
initially house around fifteen companies and around one hundred entrepreneurs
and staff.

Those housed in the facility have been chosen by the partners
through different routes: Cisco through its British Innovation Gateway
programme (BIG) has granted space to the most promising digital and tech
start-ups it has discovered and UCL Advances – UCL’s centre for
entrepreneurship and business interaction – will select the best and brightest
of UCL's digital entrepreneurs for intensive support to enhance their growth.

Leading media organisation DC Thomson will focus on supporting
start-ups working in digital content creation, advertising technologies,
ecommerce, educational technologies and analytics. The company has
recently welcomed its first two start-ups at IDEALondon and will provide
mentorship and guidance on commercialising and scaling business
propositions. As well as providing space for start-ups, IDEALondon will host UCL
researchers working at the forefront of digital innovation to develop new
products and services to take to market. The centre is much more than a
workspace; it provides dedicated business expertise, access to a structured
programme of support and collaboration on technology challenges.

In
addition, IDEALondon will host the UCL DECIDE project, in collaboration with UCL, DC
Thomson and the BBC in what is intended to be the world’s largest ‘living lab’
for digital and media projects. It will see the university utilise its staff
and student body of 30,000 as a closed community for testing and evaluating
digital products in pre-commercial development.

IDEALondon is open to any start-up that
feels they could benefit from working closely with Cisco, DC Thomson and UCL.
All the start-ups that are accepted into IDEALondon will be championed by one
of the partner organisations.

The three
partners in the centre will also offer a comprehensive programme giving
access to consultancy, mentoring and funding, as well as other opportunities
for training and business support, through UCL’s centre for entrepreneurship, UCL Advances.

Phil Smith, CEO of Cisco UK and Ireland,
said:

“At Cisco we say amazing things happen when we connect the
previously unconnected. IDEALondon is a vital element of the Cisco British
Innovation Gateway created to nurture nationwide ingenuity and growth through
entrepreneurship. The brilliant blend of UCL, DC Thomson and Cisco means startups
can be more connected, skilled and ambitious than ever before.”

Richard Hall, Director, DC Thomson, said:

“The IDEALondon facility realises DC
Thomson’s ambition to support new business and the facility is the perfect
incubator for start-ups. The facility provides our start-ups with the
opportunity to enjoy a tech city location whilst simultaneously giving them the
opportunity to work with an established media organisation. We offer
access to experienced business mentors and support from our Group companies and
wider business network.”

Professor Stephen Caddick, Vice-Provost
for Enterprise at UCL and a member of the Government’s Tech City Advisory
Group, said:

“IDEALondon will ensure the future growth
and prosperity of start-ups across the area by giving them access to all the
opportunities working with a world-leading university can provide – access to
advanced lab facilities, computer scientists and a closed community market
research programme – right on their doorstep.”

This is the
second incubator programme that DC Thomson has established for start-up
businesses. IDEAL’s sister programme IDEAS, based in Dundee, is a partnership
between brightsolid online technology, DC Thomson and the universities
of Abertay and Dundee offering help to start-up digital economy entrepreneurs.